B2B online gaming supplier GAN announced that it delivered a record 14.6m settled online bets on the day of the Super Bowl LV last week, up 186% on last year’s event.
Dermot Smurfit, chief executive of GAN, said the supplier delivered uninterrupted performance for all of its US clients during last week’s Super Bowl, experiencing record transaction volumes before, during and after the event.
Smurfit added that the company will leverage the experience and technical data gained to prepare for next year’s event, during which it expects to see betting on its platform take place across more than 12 states simultaneously.
The supplier has also reached an agreement with existing customer Greenwood Gaming & Entertainment (trading as Parx Casino), to license its iBridge integration framework, which integrates operators’ online and offline loyalty reward schemes, for a period of 10 years.
The agreement will see Parx Casino pay a total licensing fee of $3m, implying a patent license of roughly $75 per reward card. A further amendment to the existing contract with Parx Casino sees the operator released from exclusivity moving forward.
The patent licensing deal with Parx Casino further validates GAN’s intellectual property, he said, and sets a new bar for its value per reward card.
Since deploying its functionality in the US for online gaming, Smurfit said its online customers who have linked their retail gaming loyalty cards to their counterpart online gambling accounts had generated in excess of 160% more GGR in online casino and 140% more gross sports win in online sports betting.
“We continue to be engaged in numerous conversations with both large and small casino-operators to partner with GAN in order to seamlessly connect their loyal reward-card carrying customers to their various online offerings.”
“As a result, we believe we are on track to license our iBridge patent to additional U.S. casino operator groups in 2021 and throughout the patent’s remaining 13-year duration, which should help us drive long-term value for our shareholders,” Smurfit concluded.
Last month, GAN secured the first deal for its new Coolbet sportsbook, after signing a Letter of Intent (LoI) with an existing client in Virginia.
The identity of the customer was not confirmed, but GAN disclosed that the LoI covers the provision of an online, mobile-first sports betting experience in the state.
The supplier completed its acquisition of Coolbet, and its parent company Vincent Group, in a deal worth $175.9m in January this year.